Warehousing demand seen strong

Development of the industrial and retail sectors in the Greater Bay Area will fuel demand for warehouses, according to international real estate advisor Savills.

High-standard warehouses are currently concentrated in Foshan, Guangzhou and Dongguan, but as scant land allocated to logistics is coming into these markets, new supply is expected to switch to emerging areas, including Jiangmen and Zhaoqing, China Daily quoted Savills as saying.

Shenzhen’s vacancy rate in logistics real estate is the lowest among the nine mainland Bay Area cities, at 2%, followed by Dongguan and Foshan at 5% each. Zhaoqing has the highest vacancy rate of 12 percent.

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